Indian Hotel’s Raymond Bickson Says Occupancy to Remain ‘Robust’
Raymond Bickson, chief executive officer at Indian Hotels Co. (IH), comments on the outlook for the country’s hospitality industry. He spoke to reporters at the unveiling of a hotel in the southern city of Hyderabad.
“For the last 9 years, inventory in India went from 67,000 rooms to 130,000 rooms. Overall, India is at between 65 percent and 70 percent occupancy. All of those new rooms have been absorbed by the market. Barring one or two locations like Pune, where maybe there is quite a bit of buildup, the market has totally absorbed those new rooms. We have now just hit 6 million inbound tourists, and the new number from the government for domestic travelers has now crossed 740 million last year. All of this together means that capacity is growing in the entire country. Inspite of new inventory, occupancy will still remain robust at between 65 percent to 70 percent. It is very sustainable for the next ten years.”
To contact the reporter on this story: Sharang Limaye in Hyderabad at slimaye@bloomberg.net
To contact the editor responsible for this story: Arijit Ghosh at aghosh@bloomberg.net
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